This question requires you to use CapitalIQ. Once you are logged into CapitalIQ, you will need to select ConocoPhillips as the company by entering it in the Search box at the top. Then using the left hand menu, select "Industry Specific" under the category "Financials/Valuation". Here you will see ConocoPhillips disclosures for oil, natural gas, etc. Use the year 12/31/2017 and answer the following questions: A. If COP hedged 25% of "Total Production, Oil (MMbbls)" as shown in Capital IQ, what would be the millions of barrels hedged? B. How many futures contracts would they need if they hedged using futures?
Question 25 options:
| | | A) | A. 263.2 million barrels; B. 68,000 contracts | |
| | | B) | A. 65.0 million barrels; B. 6,500 contracts | |
| | | C) | A. 65.8 million barrels; B. 6,580 contracts | |
| | | D) | A. 65.8 million barrels; B. 65,800 contracts | |
| | | E) | A. 65.0 million barrels; B. 65,000 contracts | |
| | | F) | A. 663.75 million barrels; B. 66,375 contracts | |
Question 25 options:
| | | A) | A. 263.2 million barrels; B. 68,000 contracts | |
| | | B) | A. 65.0 million barrels; B. 6,500 contracts | |
| | | C) | A. 65.8 million barrels; B. 6,580 contracts | |
| | | D) | A. 65.8 million barrels; B. 65,800 contracts | |
| | | E) | A. 65.0 million barrels; B. 65,000 contracts | |
| | | F) | A. 663.75 million barrels; B. 66,375 contracts | |
